SRA Watchtower, a financial technology platform, announced the successful closure of a new $4m funding round.
This round was spearheaded by existing investors FINTOP Capital, JAM FINTOP, and EJF Capital, underscoring their continued confidence in the company’s trajectory.
The platform, which specializes in offering advanced risk management and business intelligence solutions, has secured $4m to push forward its growth and expansion efforts. The recent acquisition of Lumio Insight, a move that has significantly bolstered its technological capabilities, further highlights this growth phase.
SRA Watchtower provides a comprehensive suite of tools that cater to the needs of bank leaders and risk committees, delivering essential data for informed decision-making. The platform is renowned for its holistic approach to risk and business intelligence, integrating powerful data analytics to support the financial industry’s evolving demands.
The fresh infusion of capital will be used to expand the capabilities of the recently acquired Lumio Insight application suite. This includes the development of AI-powered ‘Risk Insights’, which will automate data ingestion into Watchtower’s risk engine. This integration aims to transform reporting processes and create configurable dashboards that offer actionable insights for executives.
Moreover, the company is dedicated to optimizing data aggregation and management. By automating the ingestion of various data sources, including core system data, general ledger, and BSA, Watchtower is creating a unified data warehouse. This warehouse serves as the foundation for generating comprehensive risk and financial insights.
“Bank leaders and risk committees need reliable and timely data to make informed decisions. We see the industry consistently demanding better and more versatile tools in this space,” Joe Maxwell, Managing Partner at FINTOP Capital and Chairman of SRA Watchtower’s Board of Directors, emphasized. “Watchtower’s Holistic Risk and Business Intelligence Platform delivers timely and powerful data analytics. This team is well-positioned to scale and iterate upon this technology to address the evolving needs of the financial industry.”
“SRA Watchtower is committed to helping financial institutions unlock the power of data which we believe is the currency of the future,” Edward Vincent, CEO of SRA Watchtower, affirmed. “This new funding further validates our mission of empowering institutions with actionable insights to optimize risk.”
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